The oil world must come to terms with the fact that the old world where producers thought they can manipulate the market through production management. It does not really work anyhow – let’s come clean on that here. Shale oil drillers are in a struggle, in a positive struggle because it stimulates innovative juices. All the other producers should rather educate the world on the advantages of oil and gas and copy the innovation of the shale folks. Not worry so much about them.
Oxford analysts are now warning that OPEC+, largely responsible for the recovery in crude markets, could see its efforts thwarted once again by chief rival: U.S. shale